OIO vs TLF: Correlation
How closely do OIO Group (OIO) and Tandy Leather Factory, Inc. (TLF) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OIO and TLF?
On 3 years of weekly data the OIO/TLF correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.05) than the 3-year average (-0.24). The 5-year figure is -0.15, and annualized covariance runs at -640.1 %².
Among the 13 assets we track against OIO, TLF sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months TLF outperformed by 86.1 percentage points (-74.1% for OIO against +12.0% for TLF). Note the risk asymmetry: OIO runs 3.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
OIO vs TLF: side by side
| OIO (OIO Group) | TLF (Tandy Leather Factory, Inc.) | |
|---|---|---|
| 1-year return | -74.1% | +12.0% |
| 5-year return | -93.0% | +11.5% |
| Volatility (ann.) | 100.9% | 26.5% |
| Beta vs S&P 500 | 0.48 | 0.23 |
| Max drawdown (3Y) | -87.4% | -34.9% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OIO | TLF |
|---|---|---|
| 2022 | – | -17.5% |
| 2023 | -93.1% | +0.2% |
| 2024 | +91.1% | +12.4% |
| 2025 | +200.8% | -20.9% |
| 2026 | -82.8% | +28.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OIO and TLF good diversifiers for each other?
Yes. With a correlation of -0.24, OIO and TLF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OIO and TLF?
As of 2026-08-27, the correlation of weekly returns between OIO and TLF is -0.24 over 3 years, 0.05 over 1 year and -0.15 over 5 years.
Is TLF a good diversifier for OIO?
Yes. With a correlation of -0.24, OIO and TLF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/oio-vs-tlf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/oio-vs-tlf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OIO correlations · TLF correlations
